Canada Emergency Wage Subsidy (CEWS) Extended to Summer 2021
In the speech from the throne delivered on September 23, 2020, the federal government announced the extension of the Canada Emergency Wage Subsidy (CEWS) into the summer of 2021. The throne speech was delivered by Gov. Gen. Julie Payette, on behalf of Prime Minister Justin Trudeau, and is intended to lay out the federal government’s […]
Potential extension of IRAP IAP as concerns grow over lull in private financing for start-ups
Government investment in early-stage companies is of particular importance at a time when there is a growing concern that many Canadian startups that rely on angel investors may be losing access to funding due to global uncertainty and border restrictions. In a recent article by The Record, reporter James Jackson noted that “Angel groups across […]
CEWS Program Extended
As a result of COVID-19, many Canadian employers have seen significant drops in revenue in recent months. Following the initial fallout of the global pandemic, the federal government responded by establishing Canada’s COVID-19 Economic Response Plan to insulate Canadian citizens from the negative economic effects plaguing many industries and sectors. Part of that plan entails […]
Changes to the Canada Emergency Wage Subsidy
Canadian Prime Minister Justin Trudeau announced changes to the Canada Emergency Wage Subsidy (CEWS) yesterday. Trudeau said firms will now have to show their year-on-year revenues had dropped by 15% in March, half the previous level of 30%, to claim a 75% wage subsidy for employees. In related news, Air Canada has announced that it […]
Federal COVID Assistance for Businesses
During these unprecedented times, the federal government has announced a variety of incentives to assist Canadian businesses. This bulletin summarizes pertinent federally-announced COVID incentives for businesses. We expect additional announcements will be made to further address support for Canadian businesses in the coming days. 75% Canada Emergency Wage Subsidy (CEWS)- The CEWS will provide a […]